Example Public Company Limited is designed to help you in preparing annual financial reports in accordance with Australian Accounting Standards based on current disclosure and presentation requirements for financial years ending 31 December 2021 and 30 June 2022. It illustrates one possible format for financial statements based on a fictitious for-profit multinational corporation involved in general business which is not a first-time adopter.

The evolution of corporate reporting

Today’s businesses are expected to act with purpose and to report fully on that purpose. This is driving changes in expectations about what information companies need to provide in their annual reports, including financial statements.

The COVID-19 pandemic has changed the way we live and work globally and community expectations around sustainability or ESG accountabilities continue to mount. As both the economic and environmental landscape and uncertainties evolve, stakeholders, including investors and regulators alike, are demanding high-quality, transparent and insightful disclosures on the key risks and opportunities facing companies, related strategies implemented, and the potential impacts on long-term prospects and financial performance. As a result, how a company tells its story throughout its reporting suite is more important than ever.

When using Example Public Company Limited to assist with the preparation of your year-end financial statements, refer to our accompanying COVID-19 supplement (PDF 2.5MB) for a suite of disclosures which illustrate how a company may communicate the accounting issues arising from COVID-19 in the financial statements. Also refer to our Insights into Remuneration Reporting which helps companies prepare Remuneration Reports that are effective communication tools and aspire to align with best practice. 

Example Public Company Limited: illustrative disclosures 2021-22

If you are using our guide for the first time

Given Australia’s close alignment to IFRS® Standards, a substantial portion of Example Public Company Limited has been based on the illustrative disclosures publication prepared by our international colleagues based on ‘pure’ IFRS Standards.

However to illustrate additional Australian specific disclosure and alternative presentation methods that are commonly used in Australia, a separate section, has been included, just before the main financial statements. A clear cross-reference to the Australian section is included on affected international pages.

If you are a recurring user of our guide

Our guide includes a what’s new page, which contains a summary of all new or revised accounting standards and regulatory changes that have been reflected in Example Public Company Limited since the previous edition of this guide and references to other resources in the guide that you might find useful to your financials statement preparation for the current period.



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